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Home My WebLink About880445.tiff RESOLUTION RE: APPROVE CONTRACT TO BUY AND SELL REAL ESTATE AND AUTHORIZE CHAIRMAN TO SIGN WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with a Contract to Buy and Sell Real Estate concerning the following described property, to-wit: That part of Lot 5 , Section 18 , Township 2 North, Range 66 West of the 6th P.M. , Weld County, Colorado, lying west of the Platte River in Division 1 , Lupton Meadows Subdivision WHEREAS , said property was previously declared as surplus property by the Board, and WHEREAS, said Contract provides for the sale of said property to Robert M. Stahl and Mary E. Stahl, with the terms and conditions being as stated in the Contract, and WHEREAS, after review, the Board deems it advisable to approve said Contract, a copy being attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the above described Contract to Buy and Sell Real Estate be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chairman be, and hereby is, authorized to sign said Contract. 880445 Page 2 RE: CONTRACT - STAHL The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 6th day of June, A.D. , 1988 . cla BOARD OF COUNTY COMMISSIONERS ATTEST: WEL UNTY, COLORADO Weld County lerk and Recorder and Clerk to the Board Gene R. Brantn r, Chairman im/ �r BY: f eyt,,y, ,e C.<..--)tu C.-Kir. y, Pro Tem Deputy County Clerk EXCUSED DATE OF SIGNING - AYE APPROVED AS TO FORM: Jacque ' ne J n 77 i GO 4.," ,County Attorney Frank amaguchi 880445 printed portions of this form approved & ASSOCIATES by the Colorado Real Estate Commission REAL ESTATE (SC 24-2-81) 303/957-1930 • 303/921-0432 - 303/75-2211 I40 DENVER AVENUE-FORT LUILON.COLORADO Mil FARM AND RANCH CONTRACT TO BUY AND SELL REAL ESTATE (Seller's remedy limited to Liquidated Damages) THIS IS A LEGAL INSTRUMENT.IF NOT UNDERSTOOD.LEGAL.TAX OR OTHER COUNSEL SHOULD BE CONSULTED BEFORE SIGNING. April 24, , 1988 1.The undersigned agent hereby acknowledges having received from Robert 14. Stahl and Mary E. Stahl the sum of$ 500.00 ,in the form of personal check • to be held by J.L. Sears & Associates, Inc. broker,in broker's escrow or trustee account,as earnest money and part payment for the following described real estate in the said County of Weld • Colorado to wit: That part of Lot 5, Sec. 18, T2N, R66W, lying West of the Platte River in Division 1, Lupton Meadows Subdivision, EXCEPT AND RESERVING to Sellers, one—half of all oil, gas, hydrocarbons and other minerals that Sellers own. All gravel or aggregates to go to the Buyers) • together with all easements and rights of way appurtenant thereto,and all improvements thereon and all fixtures of a permanent nature currently on the premises except as hereinafter provided,in their present condition,ordinary wear and tear excepted,known as No. t o be determined .and hereinafter called the Property. (Street Address. rsigned p) Robert M. Stahl and Mary E. Stahl 2. Subject to the/ /pro/vi/s/io/n/s/of/p/a/ragraph 1 the undersigned person(s) (as joint tenants/to Itltb i /bthoW)/hereinafter called Purchaser,hereby agrees to buy the Property,and the undersigned owner(s),hereinafter called Seller,hereby agrees to sell the Property upon the terms and conditions stated herein. 3.The purchase price shall be U.S.$ 10,000.00 ,payable as follows: $ 500.00 hereby receipted for: $9,500.00 to be paid in cash or certified funds at closing. 4.Price to include the following personal property: none to be conveyed by bill of sale at time of closing in their present condition,free and clear of all personal property taxes,liens and encumbrances,except none and except any personal property liens in any encumbrance specified in paragraph 12.The following fixtures of a permanent nature are excluded from this sale: none 5. Price to include the following water rights. none 6.If a new loan is to be obtained by Purchaser from a third party,Purchaser agrees to promptly and diligently(a)apply for such loan,(b)execute all documents and furnish all information and documents required by the lender,and(c)pay the customary costs of obtaining such loan.Then if such loan is not approved on or before N/A . 19 _ ,or if so approved but is not available at time of closing,this contract shall be null and void and all payments and things of value received hereunder shall be returned to Purchaser. 7,If a note and trust deed or mortgage is to be assumed,Purchaser agrees to apply for a loan assumption if required and agrees to pay(1)a loan transfer fee not to exceed$ N/A and(2)an interest rate not to exceed N/A %per annum.If the loan to be as- sumed has provisions for a shared equity of variable interest rates or variable payments,this contract is conditioned upon the Purchaser reviewing and consenting to such provisions.If the lender's consent to a loan assumption is required,this contract is conditioned upon obtaining such consent without change in the terms and conditions of such loan except as herein provided. 8.If a note is to be made payable to Seller as partial or full payment of the purchase price,this contract shall not be assignable by Purchaser without written consent of Seller. 9.Cost of any appraisal for loan purposes to be obtained after this date shall be paid by Purchasers 10.An abstract of title to the Property,certified to date-or a current committment for title insurance policy in an amount equal to the purchase price,at Seller's option and expense,shall be furnished to Purchaser on or before May 3/ ,19 88 . If Seller elects to fur- nish said title insurance committment,Seller will deliver the title insurance policy to Purchaser after closing and pay the premium thereon. 11.The date of closing shall be the date for delivery of deed as provided in paragraph 12.The hour and place of closing shall be as designated by J.L. Sears and Associates. Inc. 12.Title shall be merchantable in Seller,except as stated in this paragraph and in paragraphs 13 and 14.Subject to paymentor tender as above provided and compliance by Purchaser with the other terms and provisions hereof.Seller shall execute and deliver a good and sufficient Special warranty warranty deed to Purchaser on __ tt July 9 19 88 ,or,by mutual agreement, at an earlier date,conveying the Property free and clear of all taxes,except the gener t es for the year of closing,and except none :free and clear of all liens for special improvements in- stalled as of the date of Purchaser's signature hereon,whether assessed or not:free and clear of all liens and encumbrances except none except the following restrictive covenants which do not contain a right of reverter: _none and except the following specific recorded and/or apparent easements: those of record or visually evident and subject to building and zoning regulations, 880445 13.Except as stated in paragraphs 12 and 14.if title is not merchantable and written notice of detect(s)is given by Purchaser or Purchaser's agent to Seller or Seller's agent on or before date of closing.Seller shall use reasonable effort to correct said defect(s)prior to date of closing.If Seller is unable to correct said defect(s)on or before date of closing,at Seller's option and upon written notice to Purchaser or Purchaser's agent on or before date of closing, the date of closing shall be extended thirty days for the purpose of correcting said defect(s).Except as stated in paragraph 14,if title is not rendered mer- chantable as provided in this paragraph 13,at Purchaser's option,this contract shall be void and of no effect and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be returned to Purchaser. 14.Any encumbrance required to be paid may be paid at the time of settlement from the proceeds of this transaction or from any other source.Provided, however,at the option of either party,if the total indebtedness secured by liens on the Property exceeds the purchase price,this contract shall be void and of no effect and each party hereto shall be released from all obligations hereunder and all payments and things of value received hereunder shall be re- turned to Purchaser. 15.General taxes for the year of closing,based on the most recent levy and the most recent assessment,prepaid rents,water rents,sewer rents,FHA mortgage insurance premium and interest on encumbrances,if any,and none shall be apportioned to date of delivery of deed.Purchaser shall be responsible for any sales and use tax that may accrue because of this transaction. 16.With respect to the growing crops Seller and Purchaser agree as follows: 17.Possession of the Property shall be delivered to Purchaser on final settlement and delivery of deed subject to the following leases or tenancies: none. If Seller fails to deliver possession on the date herein specified,Seller shall be subject to eviction and shall be liable for a daily rental of g none until possession is delivered. 18.The risk of loss from any damage to the improvements by fire or other casualty prior to the date of closing shall be on Seller;provided,however,that if Seller shall maintain insurance on said improvements which will compensate for the full replacement value thereof,and if Purchaser elects to carry out this contract despite such damage.Purchaser shall be entitled to all such insurance proceeds.The risk of loss for any damage to growing crops,by fire or other casualty,shall be borne by the party entitled to said crops as provided in paragraph 16,and such party shall be entitled to the insurance proceeds. if any. 19.Time is of the essence hereof.If any note or check received as earnest money hereunder or any other payment due hereunder is not paid,honored or tendered when due,or if any other obligation hereunder is not performed as herein provided,there shall be the following remedies: (a)IF PURCHASER IS IN DEFAULT,then all payments and things of value received hereunder shall be forfeited by Purchaser and retained on be- half of Seller and both parties shall thereafter be released from all obligations hereunder.It is agreed that such payments and things of value are LIQUI- ' DATED DAMAGES and are(except as provided in subparagraph(c))the SELLER'S SOLE AND ONLY REMEDY for the Purchaser's failure to perform the obligations of this contract.Seller expressly wafves the remedies of specific performance and additional damages. (b)IF SELLER IS IN DEFAULT.(I)Purchaser may elect to treat this contract as terminated,in which case all payments and things of value received hereunder shall be returned to Purchaser and Purchaser may recover such damages as may be proper,or(2)Purchaser may elect to treat this contract as being in full force and effect and Purchaser shall have the right to an action for specific performance or damages,or both. (c)Anything to the contrary herein notwithstanding,in the event of any litigation arising out of this contract,the court may award to the prevailing party all reasonable costs and expense,including attorneys'fees. 20.Purchaser and Seller agree that in the event of any controversy regarding the earnest money or things of value held by broker,unless satisfactory mutual written instruction is received by broker,broker shall not be required to take any action but may await any proceeding,or at broker's option and discretion.may interplead any moneys or things of value into the court and may recover court costs and reasonable attorneys'fees. 21. Additional provisions: Purchasers has been informed that this property is in a flood plainand a Hazard Flood Permit must be obtained to build. Therefore: This contract is contingent on the permit not requiring more than 3 ' of fill for base to erect any building. e-74y Tr 3( �.._=r 22. If this proposal is accepted by Seller in writing and Purchaser receives notice of such acceptance on or before P�' � t .this instrument shall become a contract between Seller and Purchaser and shall inure to the benefit of the heirs,successors and assigns of such pa es.except as stated in pa raph 8. 31?7 ( 8k Broker J.L. Sears and Associates Purchaser - Date F. 3/27/88 Purchaser Date By Purchaser's Address 6585 W. 62nd Place, Arvada CO 80003 phone 298-2666 431-1592 work (The following section to be completed by Seller and Listing Agent) • 23.Seller accepts the above proposal this day of Mc t tit . 0 88 and agrees to pay a commission of %of the purchase price for services in this transaction,and agrees that.in the event of forfeiture of payments and things of of value received hereunder,such payments and things of value shall be divided between listing broker and Seller,one-half there of to said broker,but not to exceed the commission, and the balance to Seller. Seller Seller Seller's Address Listing Broker's Name and Address J.1 . Sears and Associates. 140 Denver Avenue Fort Lupton, CO 80621 • UPDATE LEGAL FORMS O P.O BOX 1815-GREELEY.COLORADO 80632 �1 ,f� 303/356-6380 880 -.45 !� • (SC 24-2-81) Hello